Great post SCH, thank you for this information.
I also think we should have shorter seasons. An Olympic break, not starting until maybe February and full seasons would make it so it will take closer to 2025-26 before going back to a normal format as I don't think you can safely condense the schedule any more than I suggested.
Unless perhaps the NHL plans to make 2020-21 a full season, then shorten the 2021-22 season due to the Olympics, as this is a rare opportunity for them to set things up so the Olympics don't get in the way of an NHL season. Make the 2021-22 season 48 games, start it in March, ending the regular season at the end of May and playoffs at the end of July. Then with having a short 2021-22 season, they could start the 2022-23 season in mid-October and a condensed schedule would have them back to normal.
Frankly, if it were up to me I would definitely go with a reduced schedule, in an attempt to make it permanent. I would also do a post-expansion realignment with 8 divisions and 4 conferences.
CGY, EDM, SEA, VAN
AHM, LAK, SJS, VGK
ARZ, COL, DAL, NSH
CHI, MIN, STL, WPG
CAR, FLA, TBL, WSH
NJD, NYI, NYR, PHI
BUF, CBJ, DET, TOR
BOS, MTL, OTT, PGH
Although these divisions would look much better if we could just move the Panthers to Houston and swap Nashville with Houston
Then I'd go with a 72 game schedule, 4 games vs your own division, 3 games against the other division in your conference and 2 against every other division. Top 2 teams from each division make the playoffs, have a divisional round, then conference round, then seed for the SC Semi-Finals.
Actually that is more of a hybrid of what the NHL would accept and I would do. I don't personally think it is important to have every team play each other at least twice.